The Brooks Group which traces its origins to Togher in Cork in 1750 has emerged from liquidation saving 60 jobs.
Welsh company Premier Forest Products, based in Newport, has purchased the assets of the Brooks Group from the High Court-appointed liquidator Kieran Wallace of KPMG for an undisclosed sum believed to be several million euro.
The Brooks Group, the country’s largest timber distributor, started in Cork in 1750 as Haughton’s with company names such as Brooks Haughton, Brooks Hanley and Brooks Thomas steeped in the Irish timber industry history.
Brooks Group managing director Mark Lohan, who played a key role in securing the new investors, said keeping the historic brand alive during the insolvency process was difficult but vital: “It was only possible to do this with the commitment and loyalty of the staff and management and the support given by our suppliers and customers.
“Our new owners are timber people and understand the business. Together, we look forward to rejuvenating the Brooks brand and will continue to place an emphasis on quality and customer service in the delivery of timber and timber-based panel products and the entire range of building materials.”
Liquidator Kieran Wallace said: “We are pleased to announce the successful sale of the Brooks business to what is a very successful operator in the timber and building materials sector. It’s even more satisfying that the sale secures both the Brooks brand and importantly, 60 jobs. We wish both operations every success for the future.”
The Brooks Group will continue to conducts its operations through a network of six outlets, in Dublin (2), Galway, Tulllamore, Sligo and Cork.
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